Freddie Mac (FHLMC) Multifamily Lending

Freddie Mac Conventional and Small Balance Loan Programs for the Acquisition and Refinance of Multifamily Properties.

Freddie Mac (FHLMC) is an agency lender that offers two main programs for financing multifamily properties. Freddie Mac Conventional loans generally range from $5 million to $100 million, while the Freddie Mac Small Balance Loan (SBL) program ranges from $1 million to $7.5 million in select markets.

The Freddie Mac Conventional and SBL programs are nationwide, provide non-recourse debt, 30 year amortization, and an array of term lengths. Freddie also provides discounts through their green and affordability programs. For the affordability programs, a LURA agreement or HAP contract is generally not required. To qualify, rents must fall within a certain range when compared with market rents in that region.

Freddie Mac Apartment Loans in Oregon and Washington

McBride Capital arranges refinancing for 879-unit multifamily portfolio

McBride Capital is pleased to announce the refinance of a six-property apartment portfolio, with sites in Washington and Oregon. Refinancing for the 879-unit portfolio was arranged by Ken McBride through the Freddie Mac Conventional Loan Program.

5335 Meadows Road Suite 250 Lake Oswego OR 97035

503 624 5800

Proud member of the Real Estate Capital Alliance

©2017 Copyright McBride Capital LLC. All Rights Reserved

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Freddie Mac Conventional Loan Program

Description

Non-recourse financing for the acquisition or refinance of stabilized multifamily properties. Freddie Conventional loans are assumable. Cash-out is available.

5, 7, and 10-year terms are most common. Terms up to 30 years are available.

Loan Term

Generally held to 1/2 the term of the loan. Full-term Interest Only is generally available at 70% LTV and below.

Interest Only

Generally $5 million to $100 million

Prepayment Terms

Yield maintenance until securitized, followed by 2-year lockout. Defeasance thereafter. No prepayment penalty in final 90 days of the loan. If the loan is not securitized within the first year, then yield maintenance applies for the life of the loan. Yield maintenance without defeasance is available for securitized loans at an additional cost.

Loan Amount

For borrowers purchasing or refinancing small multifamily properties, the nationwide Small Balance Loan program offers highly competitive terms and a streamlined execution that can close in as fast as 30 days. SBL loans are non-recourse and assumable.

Description

5, 7, or 10-year fixed-rate period. 

or

20-year hybrid ARM with initial 5, 7, or 10-year fixed rate period

Loan Term

80%

Max Loan to Value
Debt Service Coverage

1.20x in Top Markets

1.25x in Standard Markets

1.30x in Small Markets

1.35x in Very Small Markets

Prepayment Terms

Declining schedules and yield maintenance available for all loan types

Freddie Mac Small Balance Loan Program

Amortization

Up to 30 Years

Interest Only

Partial interest only

Full-term interest only may be available

Loan Amount

$1 million to $6 million. $7.5 million in Top Markets

Up to 30 Years

Amortization
Debt Service Coverage

Minimum 1.25x

Max Loan to Value

80%

Freddie Mac Multifamily Portfolio Loan. Agency loan in Oregon and Washington.

McBride Capital arranges refinancing for 498-unit multifamily portfolio

McBride Capital is pleased to announce the refinance of a five-property apartment portfolio, with sites in Washington and Oregon. Refinancing for the 498-unit portfolio was arranged by Colin Kelley through the Freddie Mac Small Balance Loan Program.